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Adjustment for ARC Transaction Incorrect $ Amount

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Question: 
A customer sends an ARC transaction for the incorrect dollar amount. Are there any other means to pursue an adjustment other than having the Receiver/RDFI return the transaction as unauthorized or improper?
Answer: 

Under NACHA rules, the authorization for an ARC entry is for a specific dollar amount: the amount of the source document check. An entry for the wrong amount is an unauthorized transaction. As a general rule, NACHA does not provide for adjustments to the amount of a transaction. The transaction is either correct or incorrect.

Return it as unauthorized R10 after obtaining the written statement of unauthorized debit (WSUD). Adn don't forget that, if the transaction is from a consumer account, the consumer's claim is subject to Regulation E's Section 205.11 error resolution rules.

First published on BankersOnline.com 6/13/11

First published on 06/13/2011

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